At the 2015 Annual Conference of the Canadian Finance & Leasing Association (CFLA), PayNet was named the CFLA Member of the Year for 2014-2015.

It marks just the second time the award has been given to an entire organization rather than an individual. The first was Ford Motor Company of Canada, which received the 2006-07 award.

“Every company is a collection of individuals who make things happen. And this company is no exception,” said CLFA Chairman Eugene Basolini. “This is our industry’s thank you to PayNet, to PayNet President and CFLA Board Member Bill Phelan and to his colleagues.”

For CFLA, PayNet has developed monthly indices of equipment finance in Canada, including monthly statistics on equipment finance originations by province and nine industry sectors. The existing 30- and 90-day delinquency indices will also be segmented by province and industry sector.

“These are new and innovative tools designed by PayNet that will soon appear on the CFLA website,” said Basolini. “PayNet has made a major contribution to the quality of equipment finance data CFLA can offer members.”